October data suggests pain ahead for UK economy By Chris Tracey, investment director If ever t...
October data suggests pain ahead for UK economy By Chris Tracey, investment director If ever there was an example of a two-tier economy, it is the UK with manufacturing remaining firmly in recession (September production fell by 1.6% month on month) and consumer instalment credit rising by 12.9% at an annual rate over the same month. The current savings ratio, at 4.9%, compares with the average in the mid-1990's of nearer 11%, and clearly one of the concerns of the Monetary Policy Committee has been that further cuts in interest rates, already at their lowest level for 37 years, would...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes